Development

Durango-Las-Vegas
DevelopmentNevadaNewsWestern

NRP Group, Haseko Underway on $133 Million Las Vegas Project

by Lynn Peisner

LAS VEGAS — The NRP Group has partnered with Haseko North America, the U.S. subsidiary of a Japanese condominium builder, and broken ground on a $133 million community in Las Vegas. Located at the northeast corner of West Maule Avenue and Gagnier Boulevard, the site is across from the Durango Casino & Resort and adjacent to The UnCommons, a mixed-use destination featuring apartments, retail, dining and office space. The four-story, single-building development will comprise a mix of 309 studio, one-, two- and three-bedroom units. Amenities include a pool, two landscaped …

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Carrollton-Flats
Affordable HousingDevelopmentFinanceGeorgiaNewsSoutheast

R.H. Ledbetter Secures Equity for $49 Million Atlanta Metro Workforce Project

by Lynn Peisner

CARROLLTON, GA. — R.H. Ledbetter Properties, a development, investment and property-management firm based in Rome, Georgia, has secured $15 million in equity to put toward its $49 million project in Carrollton. The equity was provided by American South Capital Partners (ASCP), a joint venture between Los Angeles-based impact fund manager SDS Capital Group and Vintage Realty Co., a Shreveport, Louisiana-based property developer and manager. While the property, Carrollton Flats, is not being developed with traditional tax credits, it is billed as offering “attainable” rents.  ASCP’s fund has, to date, committed …

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District-in-Davie
DevelopmentFinanceFloridaNewsSoutheast

El-Ad Secures $85 Million for Broward County Mixed-Use Project

by Lynn Peisner

DAVIE, FLA. — El-Ad National Properties has secured an $85 million construction loan for The District in Davie, a $1 billion, 2.8-million-square-foot mixed-use development currently under construction in Davie. According to the developer, the financing, provided by Valley National Bank, will enable vertical construction to continue. The project will feature five residential towers ranging from 21 to 24 stories containing approximately 1,292 rental residences, 36,000 square feet of restaurant and retail space and 1.1 million square feet of access-controlled parking with 2,650 spaces. Each tower will offer studios and one-, …

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The-Raye-at-Vermella-New-Brunswick
DevelopmentFinanceNewsNortheast

JLL Arranges $162 Million Loan for Russo Development’s Raye by Vermella

by Lynn Peisner

NEW BRUNSWICK, N.J. — Russo Development has secured permanent financing for The Raye by Vermella, a 534-unit community in New Brunswick. JLL Capital Markets arranged the $162 million loan, which was funded by Wells Fargo. The first phase of construction includes 262 units and is 65 percent leased, with full stabilization expected by the fourth quarter of this year. In Phase II, the developer will build 262 additional units. A construction timeline wasn’t disclosed, but Russo expects Phase II will be stabilized by the third quarter of 2027. JLL Capital …

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Danielle-Katz
Affordable HousingDevelopmentFinanceIndustry Voices

Affordable Housing Developers Are Undeterred by New Funding Challenges Ahead in 2026

by Lynn Peisner

The affordable housing industry is entering its cautious momentum era. On one hand, the One Big Beautiful Bill Act (OBBBA) significantly enhanced the Low-Income Housing Tax Credit (LIHTC), making more credits available and making the credits easier to qualify for. On the other hand, the parallel cuts to federal funding, general uncertainty in the market and a decline in investor interest keep the industry outlook guarded. The tax credit is a powerful tool used by developers to aid in the construction and development of affordable housing projects across the country. …

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Broadstone-Marina-Bay-Tampa
DevelopmentFloridaLeasing & MarketingNewsSoutheast

Alliance Residential Opens Bayfront Broadstone Property in Tampa

by Lynn Peisner

TAMPA, FLA. — Alliance Residential Co. has completed development of Broadstone Marina Bay, a 325-unit community in Tampa’s Westshore Marina district with waterfront views. The community is anchored by a waterfront clubhouse whose standout amenity is a fully equipped multimedia production space with professional recording gear, Blackmagic-brand cinema cameras, editing suites and industry-grade instruments, designed for resident music, video and podcast production. The club also is home to a bayfront saltwater pool with cabanas, a rooftop lounge, a waterfront putting green, a dog park, yoga and bocce ball lawns, a …

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The-Perennial
Affordable HousingDevelopmentNew YorkNewsNortheast

Construction Underway on $150 Million Redevelopment of Former Queens Hospital

by Lynn Peisner

NEW YORK CITY — Foxy Development and Selfhelp Realty Group have closed on financing and begun construction of The Perennial, a 145-unit, multi-generational affordable housing property that also will be the future home of the Forest Hils Jewish Center. The project is a redevelopment of a former Parkway Hospital building that is located at 70-35 113th St. in the Forest Hills section of Queens. The building has been vacant since the hospital closed down in 2008. The building was constructed in the 1960s. Once complete, by approximately the end of …

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Ekos-at-Arbor-Park-II
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners Breaks Ground on Second Phase of Ekos at Arbor Park

by Lynn Peisner

NORTH PORT, FLA. — McDowell Housing Partners has begun construction of the second phase of Ekos at Arbor Park, an affordable housing community in North Port, about midway between Sarasota and Fort Myers. Phase I was reserved for seniors, while the second phase, which will include 66 units, will be reserved for families earning at or below 70 percent of the area median income. Completion is slated for the fourth quarter of 2026. Phase I was completed in May of this year. Ekos at Arbor Park Phase II will include …

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Presidium-Waterford-Austin
DevelopmentNewsTexas

Presidium Opens North Austin Project

by Lynn Peisner

AUSTIN, TEXAS — Dallas-based developer Presidium has completed construction of Presidium Waterford, a six-story, 283-unit community in Austin, about four miles south of The Domain, a mixed-use destination in North Austin. Residents will be able to take advantage of smart-home controls, including thermostats, lighting and unit access, through one smartphone app. Amenities include a resort-style pool, outdoor fireplaces, a water volleyball court, a courtyard with fire pits, a hammock grove, coworking lounges and a fitness center with spin and yoga studios connected to an outdoor lawn. The property also features …

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Westbend-Residences-Fort-Worth
DevelopmentNewsTexas

Trademark Begins Construction of Westbend Residences in Fort Worth

by Lynn Peisner

FORT WORTH, TEXAS — Trademark Property Co., a locally based mixed-use developer, is underway on the construction of Westbend Residences in Fort Worth’s University District. Completion is slated for the first quarter of 2027. The 321-unit property is being developed on 3.5 acres along the Trinity Trails, which make a loop around the Trinity River. The seven-story community will feature ground-floor restaurant space, two resort-style pools, a fitness center, a dog spa and a two-story parking garage. The project has been designed to meet National Green Building Standards to qualify …

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